In this live zoom video conference students will learn about the changes made by TCJA such as the use of the cash method of accounting and the simplified treatment of inventory by taxpayers whose average annual gross receipts do not exceed $25M (indexed) and its impact on Regulation 1.471-1 regarding merchandise. After completing this program, participants will be able to determine who should change from the accrual to the cash method and who should change from maintaining an inventory to not maintaining an inventory under the final regulations. This program is group discussion friendly, and questions are encouraged during the presentation. Ideal for CPAs, EAs, and CFPs.